The China-Maldives Free Trade Agreement (FTA) took effect on Wednesday, the first day of 2025, with more than 95 percent of products traded between the two countries exempted from tariffs.
In east China's Shandong Province, one of the country's major exporters to the Maldives, a local electronics manufacturer expects its exports to the country to rise by 20 percent under the agreement.
"The agreement will improve our products' export competitiveness. We are now in negotiations with our Maldivian clients for further cooperation to expand our export scale. With tariff reductions and exemptions under the FTA, we anticipate a growth of approximately 20 percent in our exports throughout 2025," said Zhao Zhengcong, chief engineer of the company.
The agreement will benefit a wide range of products traded between the two countries including ship, steel, furniture, ceramics, vegetables and fruits from China, and seafood, nuts, wooden ornaments from the Maldives.
"After the China-Maldives FTA takes effect, over 70 percent of the tax items from the Maldives will be exempted from tariffs. Shandong's major beneficiary industries include plastic products, steel products, and automotive parts. Preliminary calculation suggests that in the first year after the agreement come into effect, Shandong enterprises will save approximately 8 million yuan in tariff cuts and exemptions from exports to the Maldives," said Bi Haijun, director of the tariff department of Qingdao Customs in Shandong.
China-Maldives free trade agreement takes effect
China-Maldives free trade agreement takes effect
China's top political advisor Wang Huning called for strengthening party-to-party exchanges and enhancing political mutual trust with Britain on Thursday in Beijing. Wang, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made the remarks when meeting with the UK cross-party parliamentary delegation visiting China for the 14th China-UK Senior Leadership Forum.
Noting that President Xi Jinping and British Prime Minister Keir Starmer agreed to develop a long-term and consistent comprehensive strategic partnership during the prime minister's China visit in January, Wang said China is willing to work with Britain to implement the important consensus reached by the two leaders, strengthen party-to-party exchanges, enhance political mutual trust, and promote more results in mutually beneficial cooperation.
He said the CPPCC National Committee stands ready to make positive contributions to this end.
British delegates, including former British minister for the Cabinet Office and honorary president of the Great Britain-China Centre David Lidington, said they witnessed China's greater development achievements during the visit, and that a prosperous and stable China serves the interests of all parties.
The British side values cooperation opportunities with China, appreciates China's contributions to global governance, and is willing to strengthen mutually beneficial cooperation and multilateral coordination with China to promote common development and world peace and stability, said the delegates.
China's top political advisor calls for enhancing mutual trust with Britain
